Results of Latest CU Staff Salary Survey Now Available

October 23, 2001

FOR IMMEDIATE RELEASE
Contact: Tom Dunn
tdunn@cuna.com
(608) 231-4002

According to Credit Union Magazine's Complete Staff Salary Survey Report from CUNA & Affiliates, the average percentage increase provided to credit union employees during 2000 was 4.86% for management and 4.40% for non-management employees. Management salary increases for 2001 are budgeted to be slightly lower than for last year, at 4.74%.

Among non-management, four of the five highest paid credit union employees are in the information systems department. Programmers have the highest average base salary of all non-management employees, at $42,256 annually. Compliance officers, Web administrators, systems analysts and network administrators have average base salaries between $39,000 and $42,000. However, the average salaries of most credit union positions vary by credit union asset size.

Credit Union Magazine's 2001 Complete Staff Salary Survey Report displays the average base salary, incentive, bonus, total variable pay, and total cash compensation for 26 credit union management employees and 45 non-management positions by asset size, number of members, full-time employees, and region. It not only allows a credit union to compare its salary structure with credit unions, but also gives the average salaries of similar positions in banks where data is available.

"CUNA's survey uses random sampling to bring credit unions highly reliable salary survey data at a national level. Other surveys rely heavily on self-selection which can lead to biased data," says Vicki Joyal, vice president of Market Research and Information for the Credit Union National Association. "In addition, we can provide credit unions with salary survey data adjusted for the local geographic area(s) from which they recruit."

For more information, or to order Credit Union Magazine's 2001 Complete Staff Salary Survey Report, visit www.cuna.org or call (800) 356-8010, ext. 4157 and ask for Stock No. 23388-PR.

With its network of affiliated state credit union leagues, Credit Union National Association serves more than 90% of America's 10,300 credit unions, which are owned by more than 80 million consumer members. Credit unions are not-for-profit cooperatives where people are worth more than money. For more information, visit www.cuna.org.

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